Colorado saw its first slump in cannabis sales in September, after four months of steady growth, according to data released this month.
According to Sen. Pat Steadman (D-Denver), the downturn is likely due both to September being an off-season month as well as the marijuana tax holiday that took place on September 16th:
“Sales volumes do increase a lot in the summer months, so some of what you could be seeing is back to school, people getting on with their lives and finally leaving the summer break behind,” the senator said. “And some of that could also be the divot from the sales tax holiday.”
Both recreational and medical sales dropped about $3 million each from August. Although the state lost money on the tax holiday, September 16th turned out to be a major boon for businesses. John Andrle, owner of the Denver shop L’Eagle, told Steadman that “his business alone had saved $50,000 on that day just because he’d been holding inventory back in the grow.”
Source:
http://www.thecannabist.co/2015/11/11/colorado-marijuana-sales-update-september-2015/43676/
Photo Credit: Leslie J. Clary